Accepting E-Commerce Payments Online in the Philippines

There are so many ways on how entrepreneurs can accept payments online. This can be in the form of cash, credit card, remittance services, mobile payments, among others. The mechanics are becoming much more friendly and there’s certainly one that can suit your needs.

Tagcash.com is a payment platform for online or offline payments. It allows users to deposit funds to fund their wallet using 7 11, online bank or over the counter at banks and transfer to merchants. The merchant fee is a flat 3% for any amount, or 25 pesos per transaction, no setup fee.

Paynamics Express is a service that allows businesses to collect cash-based payments from buyers through their website, social media, email, among others. There is no sign-up fee. Fees are at 3.5% or 25 pesos – whichever is higher.

Cash and Credit card

Allows merchants to accept various form of payments such as credit card, BancNet, G-Cash, Paypal, DragonPay online banking and over the counter. It offers Direct Link Online as an integrated, secure, one stop payment switch. It also has virtual terminal, email payment, virtual link, recurring payment, tokenization, among other services for merchants.

Offers credit card, cash (BancNet, remittance centers, Globe GCash, Smart Money), Paypal, regional, China payments, among others in its system. Packages are dependent on what payment options and features you want to be activated.

A payment platform solution that can be used for mobile point of sale system and online. It also has its own PayMaya card that users can load to process payments online. It offers credit card, debit card, and ATM payment options.

A sister company of Lazada, HelloPay offers merchants payment options from credit card, over the counter, credit and debit card payment options. With the recent entry of Alibaba investment to Lazada, HelloPay is expected to go through changes as well. We won’t be surprised of the entity will likely carry AliPay in the Philippines in the near future.

Courier services with payment collection

Checkmeout allows any seller to accept credit card, over the counter, and cash on delivery payments from buyers. A person signs-up for the service to generate links for the products being marketed and share it online such as website, social media, email, among other options.

Some of the local courier service providers offer payment collection as part of their service. Although the information is not directly published on their site on the rates and scope of this service. Best to inquire directly on the arrangement that can be made.

The basics

To be able to accept payment, a website visitor visits a website such as http://www.digitalfilipino.com and access a product page. If interested, the visitor clicks on the order or buy button. Afterwards, the order gets redirected to the payment gateway and/or acquirer website to process it for approval. Also check with the credit card issuer for sufficient funds and, if approved, debit the respective credit card account.

Becoming an e-commerce merchant

There are a few steps that one has to take in becoming an e-commerce merchant. This can vary from very lenient to very strict. Such as:

Business potential. Your business model, past and projected sales are taken into consideration.

Trading and credit history. Some check the credit and trading history of the people behind the entity applying for a merchant account.

Surety bond or deposit required. Some require merchants to post a fixed amount that is on hold for the duration of the relationship. This can also be used to cover for charge back or refunds, if necessary.

Depending on the number of products you’re selling, think twice whether you wanted to sell your products directly or go through other channels.

If you’re still starting, you can join existing online sites and offer them commissions to sell your products. This way, you don’t have to worry about the infrastructure immediately. This can be a good alternative until you’re able to set up your own and you’re satisfied with the response of the market.

Big or small – there is a payment solution for you

This payment acceptance aspect has to be taken seriously. If your business will be dependent on purchases made online, having this unresolved can break your business. The good news is there are now many payment providers available ready to accommodate individuals who just wants to earn a sideline up to those who intends to generate high sales volume on a daily basis.

The potential is there. Conduct due diligence and continuous research to find the right payment gateway that suit your needs.

There are a lot of considerations that you have to take once you start going to a full online business. From web site hosting, affiliate/consumer marketing, advertising, payment, fulfillment, legal responsibilities/liabilities. But the choices are very much available and friendly unlike before.

Tagcash.com is a recent payment platform created for online or offline payments, where users can deposit funds to their wallet using 7 11, online bank or over the counter at banks and transfer to merchants. The merchant fee is a flat 3% for any amount, or 25 pesos per transaction, no setup fee. Users receive an instant 1% cashback for anything they spend with merchants. users can also buy load for any number on any of the 3 networks. There is also an Android app available.

This is an interesting article, but I wonder if this can be updated? I’m curious to know about new payment options in 2016. It would also be nice to see them categorized whether they are a good fit for small, medium, or large businesses.

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Janette Toral

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DigitalFilipino.com is a personal website of Janette Toral that started last September 17, 1999. This site has served as a platform for numerous online experiment in the area of e-commerce, Internet research, Philippine Internet history, and blogging. READ MORE about Janette Toral.